The concept of control and connected persons is used in many places in the legislation. Often a specific definition is given for a particular situation, but in the absence of that the following definitions will apply.
General definition
For various income tax and corporation tax provisions, control means:
- Ìý
•ÌýÌýÌýÌý in relation to a body corporate: the power of a person to secure that the affairs of body corporate are conducted in accordance with the wishes of that person:
- Ìý
–ÌýÌýÌýÌý by means of the holding of shares or the possession of voting power in or in relation to that or any other body corporate, or
- Ìý
–ÌýÌýÌýÌý by virtue of any powers conferred by the articles of association or other documents regulating that or any other body corporate,
- Ìý
•ÌýÌýÌýÌý in relation to a partnership: the right to a share of more than one half of the assets, or of more than one half of the income, of the partnership1
Capital gains and close companies
'Control',
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Web page updated on 17 Mar 2025 16:36